Indiana Public Retirement System (INPRS) is investing in sale-and-leaseback real estate investments in Europe through a separate account managed by Intermediate Capital Group (ICG).

The pension fund told IPE Real Assets that it had committed $100m (€88.3m) to the strategy as part of a broader series of private credit mandates run by ICG.

ICG will consider office, industrial and retail assets in Europe.

INPRS has also committed $75m to the Prologis Targeted US Logistics Fund, an open-ended core fund with $12.3bn of assets.

Topics